After investing in Adani Group companies, GQG Partners has now pumped in around ₹2,400 crore for acquiring a 5.96 per cent stake in Baba Ramdev-led FMCG company Patanjali Foods.

The stocks were bought through the Offer for Sale (OFS) process initiated by Patanjali last week. Patanjali Foods issued an OFS at a floor price of ₹1,000 per share, allowing its largest shareholder, Patanjali Ayurved, to sell off 2.53 crore shares of the firm.

According to a regulatory filing by Patanjali Foods to the stock exchanges, the OFS was carried out over two days, with the offer being opened up for non-retail investors on July 13 and for retail investors on July 14. The sale was at a steep 18.36 per cent discount to its then-prevailing price of ₹1,225 on BSE.

On Monday, shares of Patanjali Foods closed at ₹1,254. 70 up by 2.43 per cent.

The US-based investment firm, GQG Partners, has been increasing its exposure to India after it started investing in the Adani group in early March, when the group was reeling from damaging allegations made by short-seller Hindenburg Research. It has since been increasing its stake in group companies.

GQG holds positions in companies including ITC Ltd. and Sun Pharmaceutical Industries Ltd, along with lenders ranging from the State Bank of India to ICICI Bank Ltd. and Housing Development Finance Corp.